Hedge-fund billionaire Steven A. Cohen in sworn testimony earlier this year called the rules on insider trading “very vague” and said sometimes it’s a “judgment call” as to whether a tidbit about a public company is inside information, according to the NY Post.
The founder of SAC Capital Advisors, one of the hedge-fund industry’s best-known firms, offered up his views on insider trading during two days of deposition testimony in February and April this year as part of a long-running civil lawsuit filed by Canadian insurer Fairfax Financial.
It’s rare for Cohen to speak publicly and even rarer for him to share his views on something as controversial as insider trading. Cohen’s insights are revealing not just because of his status as an industry titan, but because his $14 billion firm continues to draw attention in an ongoing investigation by US authorities into insider trading
Read more at http://www.nypost.com/p/news/business/sac_boss_us_insider_rules_vague_1imYOMcXpe2ZyjeNDtbJ0K
No comments:
Post a Comment